Egypt
Abu Dhabi Islamic Bank - Egypt is on the Central Bank of Egypt's list of registered and licensed banks, and its own site sells named products such as the Mudaraba Investment Deposit. The Central Bank also runs EGP sovereign sukuk auctions; its auction page lists a 3-year issue dated 10 Nov 2026.
Five checks
Banking rulesNot checked
Not confirmed. Islamic banks are licensed under the general banking law, Law No. 194 of 2020. The official Arabic PDF on the Central Bank's site could not be text-searched (font encoding), and an unofficial English translation (Andersen) has no provision on Islamic banking. No Central Bank circular on Islamic banking was found. The Financial Regulatory Authority site blocked access.
Licensed banks and windowsFound
- Abu Dhabi Islamic Bank - Egypt (ADIB Egypt) · full bankAl Ghina / Al Ghina Plus savings accountMudaraba Investment DepositEl Naharda Fund (money market fund)
- Faisal Islamic Bank of Egypt · full bank
- “Registered Banks with the Central Bank of Egypt & licensed to operate”
Central Bank of Egypt - “Abu Dhabi Islamic Bank - Egypt 24/7/1980”
Central Bank of Egypt - “Abu Dhabi Islamic Bank - Egypt, the largest Islamic bank in the Egyptian market”
Abu Dhabi Islamic Bank - Egypt - “Profit Calculation based on Islamic Shari’a guidelines and terms and conditions of the Mudaraba Contract”
Abu Dhabi Islamic Bank - Egypt - Faisal Islamic Bank of Egypt
Sukuk issuedFound
- EGP fixed sovereign sukuk auctioned by the Central Bank of Egypt, 3 years, ISIN EGKGU00111F1 · 2026 · EGP 1,000m offered; issue date 10 Nov 2026, bids due 9 Nov 2026 (result not yet seen)
- EGP fixed sovereign sukuk auctioned by the Central Bank of Egypt (reopening), 3 years, ISIN EGKGU00081F6 · 2026 · EGP 1.5bn required; EGP 1.2bn accepted (auction 22 Jun 2026)
- Arab Republic of Egypt, through The Egyptian Financial Company for Sovereign Taskeek (USD sovereign sukuk) · 2023 · USD 1.5bn, 3 years (Finance Minister's statement as reported by Business Today Egypt, 22 Feb 2023)
- “Sukuk EGKGU00111F1 3 1000 10/11/2026 10/11/2029 Semi-Annual”
Central Bank of Egypt · page last updated 2026-11-04 - “EGP Floating Sukuk”
Central Bank of Egypt - “Egypt has raised $1.5 billion from its inaugural sukuk issuance”
Business Today Egypt · 2023-02-22 · secondary
Takaful (non-interest insurance)Found
The Unified Insurance Law, No. 155 of 2024, lets the Financial Regulatory Authority license companies whose sole purpose is takaful insurance or takaful reinsurance (Art. 35), and sets rules for them, including a Sharia supervisory committee (Arts. 192 to 197). Daily News Egypt (10 May 2026) reports FRA Decision No. 70 of 2026 on rules for licensed takaful companies. The law was read in an unofficial English translation; the FRA site blocked access.
- “Upon licensing by the Authority, companies may be established whose sole purpose is to conduct Takaful insurance or Takaful reinsurance.”
Andersen in Egypt (unofficial translation) · 2024 · secondary - “has issued Decision No. 70 of 2026 regulating the rules, standards, and controls governing companies licensed to practise takaful insurance activities in Egypt”
Daily News Egypt · 2026-05-10 · secondary
Capital market rulesNot checked
Not confirmed at a primary source. Law-firm and press summaries point to Sovereign Sukuk Law No. 138 of 2021 and to sukuk provisions in the capital market law, with an FRA Sharia committee. The FRA site returned 'Request Rejected' and the Al Tamimi pages sit behind a JavaScript challenge, so none of these was read.
Recent developments
- 2026-11-10Issue date of a new 3-year EGP 1,000m fixed sovereign sukuk in the Central Bank's auction schedule (bids due 9 Nov 2026). source
- 2026-06-22Central Bank auction reopened a 3-year EGP fixed sovereign sukuk: EGP 1.2bn accepted of EGP 1.5bn required. source
- 2026-05-10Daily News Egypt reports FRA Decision No. 70 of 2026 on rules for licensed takaful insurance companies. source
Still open
Points we could not confirm at source yet.
- Does Law 194/2020 or a Central Bank rule set out Islamic banking requirements (for example Sharia boards)? A Chambers summary is reported to say Egypt has no dedicated Islamic finance law. Not verified.
- Faisal Islamic Bank of Egypt is on the Central Bank list, but its own site could not be read on 14 Nov 2026, so its products are not recorded.
- Number of banks with Islamic windows (a Chambers 2025 guide is reported to say 14) was not verified.
- Al Baraka Bank of Egypt and Kuwait Finance House Bank - Egypt are on the Central Bank list but their own sites were not read.
- FRA rules for corporate sukuk and Islamic funds, and Sovereign Sukuk Law No. 138 of 2021, were not read at a primary source.
- Takaful operator list (FRA) was not read.
Where we searched
- cbe.org.eg: Laws, Banking Laws, Licensing pages, registered-banks PDF, Auctions and EGP Fixed Sukuk pages (downloaded and text-checked). The Law 194/2020 PDF downloaded but its Arabic text layer is unreadable.
- fra.gov.eg: 'Request Rejected' to curl, WebFetch and (earlier) the browser
- adib.eg: home and three product pages (downloaded)
- faisalbank.com.eg: bot-protection script page returned on 14 Nov 2026 (not bypassed)
- eg.andersen.com: English translations of Law 194/2020 and Law 155/2024 (downloaded)
- tamimi.com: JavaScript challenge (not bypassed); chambers.com Islamic Finance 2025 Egypt guide: 404
- Press: Business Today Egypt, The National, Daily News Egypt